$140 million geothermal heat and power plant planned for Hungary
View over Budapest, Hungary (source: flickr/ Rodefeld, creative commons)
Francisco Rojas
3 Dec 2014
The joint project between Mannvit and EU-FIRE will create a geothermal power plant with 12MW of electricity and 60MW of heat energy near Battonya in southeast Hungary.
Local news from Hungary state that Mannvit from Iceland and Hungary’s EU-FIRE are joining forces to develop a $140 million geothermal heat and power plant.
According to the news source, The project, carried out with the cooperation of the National Development Ministry and the National Economy Ministry, is supported with a €39.3 mln European Union grant. The power plant, to be completed by the end of 2018, will generate an annual 12MW of electricity and 60MW of heat energy. EU-FIRE holds 95% of the project company for the plant. Mannvit owns 5%.
This project is an innovative demonstration project, with concrete technical challenges. The project receives funding through the NER300 grant program of the European Union. It defines Engineered/ Enhanced Geothermal Systems (EGS) technology as the only geothermal process to be able to receive grants, which limits the choice for applicable technologies. This predetermined how we had to approach the project.“ ,said Sigurdur Larus Holm, Managing Director of Mannvit in Hungary in a comment to ThinkGeoEnergy.
Source: Budapest Business Journal
